QUEZON CITY — A major renewable energy development is being eyed in Aurora as the Aurora Pacific Economic Zone and Freeport Authority (APECO) and Huge Energy Co., Ltd. signed a Memorandum of Understanding (MOU) on Wednesday (Sept. 23) for a proposed 1-gigawatt solar power project, 100-megawatt substation, and battery energy storage system (BESS) inside the Casiguran-based ecozone.
The project targets an aggregate capacity of 1 gigawatt (GW) to be developed in three phases to energize the future industries in APECO, in a continuing push towards a stronger industrial policy.
The MOU signing was led by APECO President and CEO Usec. Gil G. Taway IV, Huge Energy Chairman and CEO Lai Hongze, and Dong-A Global Chairman and CEO Ik Soo Kwon.
Under the MOU, the first phase will focus on the development of a solar photovoltaic power generation facility, battery energy storage system (BESS), and substation, with an initial target capacity of approximately 100 megawatts.
For the second phase, Huge Energy eyes to add 350 MW of generation capacity through a mix of solar and waste-to-energy technologies, and an additional 550 MW for the third phase of its project.
“Power precedes progress. Before industries can operate, businesses can expand, and investments can come in, we need reliable and sustainable power,” APECO President and CEO Usec. Gil G. Taway IV said.
He added that the project aims to accelerate the development of critical energy infrastructure in APECO, including substations and potentially transmission facilities to contribute to energy security in fulfillment of its thrust. This will help improve the availability and affordability of power in the ecozone, the province of Aurora, and the country.
“The goal is to create a more competitive environment for investors, attract new industries and ultimately support APECO’s transition toward industrialization and manufacturing,” Usec. Taway said.
The partnership will also cover project planning and engineering, feasibility studies, permitting and government approvals, grid interconnection, power offtake arrangements, project financing, equipment procurement, engineering, procurement and construction, and eventual operations and maintenance. Each phase will be subjected to technical and financial feasibility studies, due diligence, grid requirements, and applicable government approvals.
Huge Energy Co., Ltd., a solar panel manufacturer, will be undertaking this project in APECO with South Korean energy, procurement, and construction (EPC) firm Dong-A Global Co., Ltd.
APECO is allocating 90 hectares of land for the said project. (UnliNews Online)
